UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Tutor Perini Co. (NYSE:TPC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 47.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,032 shares of the construction company's stock after purchasing an additional 28,701 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.17% of Tutor Perini worth $2,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Wyoming boosted its holdings in Tutor Perini by 39.7% in the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company's stock worth $150,000 after acquiring an additional 1,764 shares in the last quarter. Optimize Financial Inc bought a new position in shares of Tutor Perini in the 4th quarter worth $221,000. KLP Kapitalforvaltning AS acquired a new stake in Tutor Perini in the 4th quarter valued at $232,000. Commonwealth Equity Services LLC grew its position in Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after purchasing an additional 700 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Tutor Perini by 19.5% during the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock valued at $249,000 after purchasing an additional 1,680 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TPC shares. B. Riley reiterated a "buy" rating and set a $50.00 price objective (up from $40.00) on shares of Tutor Perini in a report on Friday. UBS Group lifted their price target on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Insider Activity

In related news, Director Raymond R. Oneglia sold 25,000 shares of Tutor Perini stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the sale, the director now owns 90,470 shares of the company's stock, valued at approximately $3,269,585.80. The trade was a 21.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Ronald N. Tutor sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $38.62, for a total value of $3,862,000.00. Following the completion of the sale, the chairman now directly owns 4,730,985 shares of the company's stock, valued at $182,710,640.70. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,000 shares of company stock valued at $9,355,250 in the last ninety days. 17.30% of the stock is currently owned by insiders.

Tutor Perini Stock Down 0.3%

Shares of TPC stock traded down $0.14 on Tuesday, hitting $40.42. The stock had a trading volume of 676,770 shares, compared to its average volume of 549,084. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50 day moving average of $28.65 and a 200 day moving average of $26.14. Tutor Perini Co. has a 12-month low of $14.50 and a 12-month high of $41.10. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -16.10 and a beta of 1.74.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.30 EPS. The company's revenue for the quarter was up 18.8% on a year-over-year basis.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.